Insider Selling: Comerica CAO Sells 1,403 Shares of Stock (CMA)
Comerica (NYSE:CMA) CAO Muneera S. Carr unloaded 1,403 shares of Comerica stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $50.09, for a total value of $70,276.27. Following the completion of the sale, the chief accounting officer now directly owns 10,973 shares in the company, valued at approximately $549,638. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Susquehanna upgraded shares of Comerica from a “negative” rating to a “neutral” rating in a research note on Tuesday, August 5th. They now have a $49.00 price target on the stock, up previously from $39.00. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Comerica in a research note on Wednesday, July 16th. They now have a $61.00 price target on the stock, up previously from $56.00. Finally, analysts at Bernstein raised their price target on shares of Comerica from $40.00 to $44.00 in a research note on Wednesday, July 16th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $49.86.
Shares of Comerica (NYSE:CMA) traded up 0.71% on Monday, hitting $50.71. The stock had a trading volume of 726,455 shares. Comerica has a one year low of $38.56 and a one year high of $53.50. The stock’s 50-day moving average is $49.6 and its 200-day moving average is $49.00. The company has a market cap of $9.170 billion and a P/E ratio of 17.18.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $0.80 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.76 by $0.04. During the same quarter last year, the company posted $0.76 earnings per share. Analysts expect that Comerica will post $3.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 1st. Shareholders of record on Monday, September 15th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, September 11th.
Comerica Incorporated (NYSE:CMA) is a financial services company.
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